In a strategic move to bolster India's energy transition, state-owned power giant NTPC and EDF India, a subsidiary of France’s Electricite de France, have signed a non-binding term sheet to collaborate on pumped storage hydropower and hydropower projects bundled with renewable energy. The partnership will also explore opportunities in power distribution, reflecting a broader push for sustainable energy solutions.
According to the signed agreement, NTPC and EDF India intend to establish a joint venture company (JVC) with an equal 50:50 partnership, pending necessary approvals from the Government of India. This JVC will take charge of developing, owning, managing, and sustaining pumped storage and additional hydropower projects, both in India and in adjacent nations.
“This JV company will undertake such projects on its own or may create JV and subsidiaries for undertaking such projects within India and neighbouring countries,” the statement said. Additionally, the venture will focus on integrating hydropower with renewable energy sources and evaluating distribution business opportunities.
NTPC Ltd, the largest integrated power utility in India, presently satisfies one-fourth of the nation’s energy requirement with a capacity exceeding 77 GW. EDF India, a branch of the French state-owned Electricite de France SA, offers international knowledge in both renewable and traditional power generation, enhancing India’s goals for clean energy.
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